campaign contributions

The Office of Congressional Ethics (OCE) has requested information about the fundraising activities of eight members of Congress, including Georgia Congressman Tom Price (R). According to news reports, the OCE has requested information regarding Rep. Price’s campaign fundraising and the financial regulatory bill passed in the House on December 11, 2009.

Roll Call has a story today on K street lobbyists, in anticipation of a possible Republican takeover of the House of Representatives, cozying up to would-be Speaker John Boehner, and advising their clients to "invest" in Republican candidates.

Senate Majority Leader Harry Reid (D-Nev.) and Minority Leader Mitch McConnell (R-Ky.) have announced the Senators that will participate in the conference committee to reconcile the U.S. House and Senate financial reform bills. As the New York Times reported this weekend, financial industry lobbyists are pushing hard to weaken these reforms.

This week, BP executives are facing Senate and House committees investigating the tragic oil spill along the Gulf. Congress is also working on ways to respond to the crisis. All of this, though, is on the backdrop of tens of millions of dollars the oil and gas industry has given to Congress over the last 20 years.

We've put some graphics together highlighting the campaign cash from oil and gas interests that members of the two Senate committees holding hearings today have received.

The Wall Street Journal blog has a story today on how for the first time since 2004, Republicans, who are benefiting from staunchly opposing financial regulation legislation, are the recipients of more Wall Street campaign cash than Democrats.

"The change of allegiance comes as Congress closes in on legislation that would overhaul financial services regulations. Democrats back an aggressive bill that has been so far blocked in the Senate by Republicans."

It was announced this morning that the Securities and Exchange Commission has accused Goldman Sachs "of securities fraud in a civil suit filed Friday...which claims the bank created and sold a mortgage investment that was secretly devised to fail."

The firm is a major player on Wall Street—and K Street in Washington, D.C. Leading up to the economic bust in 2008 and continuing to today, the firm has spent millions dollars on lobbying and campaign contributions.

While it's unclear how Sen. Bob Corker will end up voting on the current financial reform bill being debated, it is clear he's received a lot of money from the industry over the years, according to data put together by Public Campaign Action Fund.

Sen. Corker has depended on financial industry dollars to fund his campaigns for public office.[1]

Sen. Shelby has publicly opposed major portions of the financial reform bill currently being debated in the U.S. Senate. The bill is being opposed by many of the same Wall Street banks that wrecked our economy. Those same interests have also given big campaign contributions to Sen. Shelby over the years.

Sen. Shelby has depended on financial industry dollars to fund his campaigns for public office.[1]

ThinkProgress.org reports that this morning Sen. Mitch McConnell (R-Ky.) took to the Senate floor to announce his opposition to financial reform legislation. Sen. McConnell’s speech comes just one day after Fox News reported that Sen. McConnell held a private meeting last week with leading Wall Street executives and hedge fund managers. Also at the meeting was Sen.